Crude set to make new lows

Brent Crude prices are falling back and the $45 level looks like it will come under pressure, according to David Linton, Chief Executive at Updata.

Linton says the cloud on ichimoku charts has provided strong resistance and crude now looks bearish again, especially since the seasonal cycle for this time of year is heavily negative. Linton’s downside target for Brent Crude is 45.50.